Insurance Easy FAQs – Basic Information About Insurance and Claims

Insurance Easy FAQs provide answers to simple frequently asked questions. Below you are going to find some insurance questions people frequently ask and answers to them. This is will help you in several ways. As they say, Knowledge is power.

How do insurance companies pay out claim?

The insurance company pays out claims based on the amount of loss incurred. Once your claim is approved, you’ll receive payment for the amount of the loss which is determined by the insurance company. Depending on what the insurance claim entails, you might receive the payment or the insurance company might send it directly to any vendor involved in the loss.

How to file an insurance claim against other drivers

If you are involved in an accident and the other driver is at fault, you can file a claim against the other driver. If you have the information from the other person involved in the accident, you may call his or her insurance company to file a claim. You can contact your insurance agent to help you with the process.

How to make a successful water leak insurance claim

Make sure you get the leak under control, have evidence of the leak like photos and videos, contact your insurance company, and meet with the loss adjusters, the loss adjuster will make a report, the insurers will appoint their surveyors for repair, then you or your Loss assessor will prepare a claim for any content damaged as a result of the water leak.

Can I claim insurance premium tax on my vat return

The answer is No. it is not possible for you to reclaim Insurance Premium Tax on your Value Added Tax (VAT) return. Like any other tax, insurance premium tax is subject to change. The Insurance Premium Tax cannot be reclaimed at all. You should also know that you don’t pay IPT and VAT on the same insurance product.